There are options for clients of former Equitable Advisors, LLC broker Brandon Spano (CRD# 4601257), who is accused of misappropriating funds. He has been registered with MML Investors Services, LLC in Saddle Brook, New Jersey from August to December 2023, Equitable Advisors, LLC in Saddle Brook, New Jersey, from 2019 to 2023, Park Avenue Securities LLC in Cranford, New Jersey, from 2017 to 2019, Voya Financial Advisors, Inc. in Garfield, New Jersey, from 2014 to 2017, Securian Financial Services, Inc. in St. Paul, Minnesota, from August to October 2023, and NYLife Securities LLC in Saddle Brook, New Jersey, from 2003 to 2013, when he was terminated regarding, “allegations that he was misapplying insurance commissions to certain agents under his supervision. The activities in question included Mr. Spano completing a life insurance application on behalf of an agent although the agent never met the client and was not present when the application was written. Mr. Spano denied the allegations. No securities products were involved.”
In October 2025, FINRA sanctioned him to pay a $5,000 civil and administrative penalty and suspended him for three months after he “consented to the sanctions and to the entry of findings that he engaged in an OBA involving acquiring real estate without providing written notice to his member firm. The findings stated that Spano entered into an agreement with a firm customer to invest in real estate.” FINRA found that while the customer provided $110,000 and the broker $340,000, he used the funds to purchase a property that he intended to renovate and resell the property to make a profit. This was “outside the scope of his employment with his firm. In addition, Spano falsely attested to the firm in annual compliance questionnaires that he had disclosed to it all OBAs.”
Brandon Spano Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
November 2023. “Clients allege that RR Spano misappropriated $110,00.00 entrusted to him for investing.” The customer is seeking $110,000 in damages, and the case is currently pending. The complaint was regarding equity OTC, and it was regarding Equitable Advisors, LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Equitable Advisors, LLC may be liable for investment or other losses suffered by Brandon Spano’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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